Most customers have been purchasing cheaper flat steel from suppliers in other countries but Chinese materials are expected to become more competitive in the near future, a trader in Shanghai said.
Fastmarkets MB’s weekly export price assessment for Chinese SPCC 1mm CRC was $555-565 per tonne fob China on Tuesday, down $5-10 per tonne from a week earlier.
A shipment of CRC was booked by a buyer in South America at $560-565 per tonne fob China during the week.
There is limited buying interest in the Middle East and parts of Southeast Asia during the Islamic holy month of Ramadan, another Shanghai-based trader said.
Muslims observe Ramadan,...